Why Ocugen Stock Is Jumping Today
Shares of Ocugen (NASDAQ: OCGN) were trading 12% higher as of 11:15 a.m. ET on Tuesday. The company didn't announce any new developments.
However, reports of increasing new COVID-19 cases in various parts of the world appear to be fueling investors' optimism about the prospects for COVID-19 vaccine Covaxin. China is now experiencing its worst COVID-19 outbreak since 2020, and yet another coronavirus wave could be beginning in Europe.
You might wonder why Ocugen's shares are rising on news from China and Europe when the company only owns the rights to market Covaxin in the U.S. and Canada. The answer is that what's happening in other regions can be predictive of what's on the way in terms of COVID-19 cases in North America.
Source Fool.com
